Cambridge Investment Research Advisors Inc. Has $1.40 Million Position in Pinterest, Inc. (NYSE:PINS)

Cambridge Investment Research Advisors Inc. reduced its holdings in Pinterest, Inc. (NYSE:PINSFree Report) by 11.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 37,775 shares of the company’s stock after selling 5,034 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Pinterest were worth $1,399,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Ontario Teachers Pension Plan Board increased its stake in Pinterest by 30.1% in the 4th quarter. Ontario Teachers Pension Plan Board now owns 24,898 shares of the company’s stock valued at $922,000 after buying an additional 5,758 shares during the last quarter. Aigen Investment Management LP acquired a new position in shares of Pinterest during the 4th quarter worth about $1,844,000. Franklin Resources Inc. increased its stake in shares of Pinterest by 34.0% during the 4th quarter. Franklin Resources Inc. now owns 10,036,837 shares of the company’s stock worth $371,764,000 after purchasing an additional 2,548,925 shares during the last quarter. Trexquant Investment LP increased its stake in shares of Pinterest by 1.1% during the 4th quarter. Trexquant Investment LP now owns 296,811 shares of the company’s stock worth $10,994,000 after purchasing an additional 3,257 shares during the last quarter. Finally, Corient Private Wealth LLC increased its stake in shares of Pinterest by 56.7% during the 4th quarter. Corient Private Wealth LLC now owns 96,380 shares of the company’s stock worth $3,570,000 after purchasing an additional 34,876 shares during the last quarter. 88.81% of the stock is currently owned by institutional investors and hedge funds.

Pinterest Trading Up 3.7 %

Shares of Pinterest stock opened at $42.74 on Friday. The company has a 50 day moving average of $38.05 and a 200-day moving average of $36.70. Pinterest, Inc. has a 1-year low of $23.59 and a 1-year high of $43.12. The company has a market cap of $29.20 billion, a PE ratio of 203.53, a price-to-earnings-growth ratio of 4.05 and a beta of 0.97.

Pinterest (NYSE:PINSGet Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.05. The business had revenue of $739.98 million during the quarter, compared to the consensus estimate of $699.96 million. Pinterest had a net margin of 4.64% and a return on equity of 5.93%. Research analysts forecast that Pinterest, Inc. will post 0.43 earnings per share for the current year.

Insider Activity at Pinterest

In related news, CFO Donnelly Julia Brau sold 65,972 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $34.42, for a total value of $2,270,756.24. Following the completion of the transaction, the chief financial officer now owns 392,829 shares of the company’s stock, valued at approximately $13,521,174.18. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Pinterest news, Director Gokul Rajaram sold 1,934 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $33.34, for a total value of $64,479.56. Following the completion of the transaction, the director now directly owns 31,646 shares in the company, valued at approximately $1,055,077.64. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Donnelly Julia Brau sold 65,972 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $34.42, for a total transaction of $2,270,756.24. Following the completion of the transaction, the chief financial officer now owns 392,829 shares of the company’s stock, valued at $13,521,174.18. The disclosure for this sale can be found here. Insiders sold a total of 133,622 shares of company stock valued at $4,737,421 in the last quarter. Insiders own 7.11% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on PINS. Sanford C. Bernstein boosted their price objective on shares of Pinterest from $35.00 to $38.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 1st. Piper Sandler restated an “overweight” rating and set a $52.00 price objective (up from $50.00) on shares of Pinterest in a research note on Thursday, May 23rd. Susquehanna upped their price target on shares of Pinterest from $35.00 to $45.00 and gave the company a “positive” rating in a research note on Friday, February 9th. Royal Bank of Canada upped their price target on shares of Pinterest from $48.00 to $52.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Finally, Benchmark reiterated a “hold” rating on shares of Pinterest in a research note on Wednesday, May 1st. Eight investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.34.

Read Our Latest Report on PINS

Pinterest Profile

(Free Report)

Pinterest, Inc operates as a visual search and discovery platform in the United States and internationally. Its platform allows people to find ideas, such as recipes, home and style inspiration, and others; and to search, save, and shop the ideas. The company was formerly known as Cold Brew Labs Inc and changed its name to Pinterest, Inc in April 2012.

Further Reading

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Institutional Ownership by Quarter for Pinterest (NYSE:PINS)

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